{"id":258262,"date":"2020-06-17T00:46:25","date_gmt":"2020-06-17T04:46:25","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=258262"},"modified":"2020-06-17T00:46:25","modified_gmt":"2020-06-17T04:46:25","slug":"palace-bats-for-fundable-stimulus-package","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/06\/17\/palace-bats-for-fundable-stimulus-package\/","title":{"rendered":"Palace bats for \u2018fundable’ stimulus package"},"content":{"rendered":"
\"\"<\/a>
Presidential Spokesperson Harry Roque agreed with the stance of Finance Secretary Carlos Dominguez III that the cost of the stimulus package should only be at PHP140 billion. (PCOO file photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0\u2013 Malaca\u00f1ang on Wednesday backed the passage of an economic stimulus plan that aims to overcome the effects of the coronavirus disease 2019 (Covid-19), so long as the government can afford to fund it.<\/p>\n

Presidential Spokesperson Harry Roque agreed with the stance of Finance Secretary Carlos Dominguez III that the cost of the stimulus package should only be at PHP140 billion.<\/p>\n

\u201cMalaca\u00f1ang now wants a stimulus package that we can actually fund and that will not require too much borrowing,\u201d Roque said in an interview with ABS-CBN News Channel.<\/p>\n

Dominguez earlier cautioned lawmakers against the approval of measures that cannot be financed and only increase the budget gap beyond the acceptable level.<\/p>\n

He made the warning as he noted that several stimulus measures filed in Congress contain provisions that are \u201cfiscally unsustainable.\u201d<\/p>\n

These stimulus bills include the PHP1.3-trillion Accelerated Recovery and Investment Stimulus for the Economy of the Philippines (ARISE) and the PHP1.5-trillion Covid-19 Unemployment Reduction and Economic Stimulus (CURES).<\/p>\n

Roque said the economic stimulus package that would be passed by Congress should be fundable.<\/p>\n

He, nevertheless, noted that senators and congressmen are holding talks to come up with an acceptable stimulus plan for the country\u2019s economic recovery from the Covid-19 pandemic.<\/p>\n

\u201cThere\u2019s a lot of negotiations ongoing between the Senate and the House,\u201d Roque said. \u201cI think there is work close to a compromise.\u201d<\/p>\n

The proposed ARISE Act allots PHP1.3 trillion for programs that would jumpstart the economy that was hit by the pandemic.<\/p>\n

Lawmakers are also pushing for the passage of the proposed CURES that allocates funds for the implementation of key infrastructure projects in the health, education, agriculture, and local roads sectors.<\/p>\n

Expressing reservations over legislators\u2019 economic stimulus bills, Dominguez said the economic team\u2019s proposed amounts, reaching a maximum of PHP160 billion as stimulus fund for the Covid-19 response, are sufficient.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0\u2013 Malaca\u00f1ang on Wednesday backed the passage of an economic stimulus plan that aims to overcome the effects of the …<\/p>\n","protected":false},"author":44,"featured_media":253430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,95],"tags":[],"class_list":["post-258262","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-news-ph","mauthors-ruth-abbey-gita-carlos","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/258262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=258262"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/258262\/revisions"}],"predecessor-version":[{"id":258263,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/258262\/revisions\/258263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/253430"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=258262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=258262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=258262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}